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Clarient Reports 41% Revenue Increase for First Quarter 2009
Date:5/6/2009

New Molecular Tests and Increased Case Volume Continue to Drive Revenue Growth

ALISO VIEJO, Calif., May 6 /PRNewswire-FirstCall/ -- Clarient, Inc. (Nasdaq: CLRT), a premier anatomic pathology and molecular testing services resource for pathologists, oncologists and the pharmaceutical industry, today reported $22.4 million in revenue for the three months ended March 31, 2009, a 41% increase as compared with $15.9 million for the same period of 2008, and an increase from $21.9 million for the fourth quarter of 2008.

Case volume in the first quarter increased to 31,765 cases, a 32% increase from the same period in 2008. The Company's customer base of oncology and pathology practices in the U.S. increased to more than 950 active clients at March 31, 2009, from 900 active clients at December 31, 2008.

"With our nineteenth consecutive quarter of revenue growth, and 56 new pathology clients within the quarter, we continue to demonstrate the strength of our brand within the pathology community," said Ron Andrews, Clarient Vice Chairman and Chief Executive Officer. "Our record of solid revenue growth combined with our third consecutive quarter of operating profit and the new strength of our balance sheet, places Clarient at an important inflection point. We are now extremely well positioned to take advantage of opportunities that strengthen our menu in key cancers and expand our geographic reach. The capital market crisis has left many biotech companies with promising new tests and no way to raise the necessary capital to bring their discoveries to market. This has created an opportunity for Clarient to use its powerful commercial engine to facilitate commerciali
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SOURCE Clarient, Inc.
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